CITY OF LAGUNA NIGUEL NOTES TO BASIC FINANCIAL STATEMENTS JUNE 30, 2024 NOTE 2 STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY (CONTINUED) Deficit Fund Balance (Continued) The fund deficit in the CDBG Special Revenue Fund and the Miscellaneous Grants Special Revenue Fund is the result of expenditures incurred during the fiscal year that have not been reimbursed since the grant is on-going. Excess of Expenditures Over Appropriations The following funds had expenditures in excess of appropriations: Fund Description Appropriations Expenditures Excess Major Governmental Funds: General Capital Outlay $ 582,264 $ 856,064 $ (273,800) Miscellaneous Grants Special Revenue Fund Total Expenditures 60,000 375,575 (315,575) Nonmajor Governmental Funds: Air Quality Improvement Special Revenue Fund Total Expenditures 100,000 105,280 (5,280) Senior Transportation Special Revenue Fund Total Expenditures 80,000 80,861 (861) NOTE 3 CASH AND INVESTMENTS The City maintains a cash and investment pool, which includes cash balances and authorized investments of all funds. The City had the following cash and investments at June 30, 2024: Governmental Activities Cash and Investments $ 66,163,563 Restricted Cash and Investments 2,179,843 Total Cash and Investments $ 68,343,406 (49)